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Experts welcome RBI's steps to boost credit; positive for housing, auto, MSMEs and banks

Ananth Narayan, professor at SPJIMR said Mr Shaktikanta Das has been saying there would be co-ordinated response to the Budget and that is what reflected in today's policy announcements.

February 06, 2020 / 06:43 PM IST

Given the evolving growth-inflation dynamics, the Reserve Bank of India as expected, on February 6, kept repo rate unchanged at 5.15 percent in its bi-monthly policy meeting.

The bank also decided to persevere with the accommodative stance as long as necessary to revive growth, while ensuring that inflation remains within the target.

The RBI cut GDP growth forecast for first half of FY21 by 30-40 bps from 5.9-6.3 percent to 5.5-6 percent.

The FY21 GDP growth forecast is at 6 percent, while for FY20 it is at 5 percent with 4.6-5.5 percent for second half of FY20.